Hard to tell from that pic, but is this meant to go on the patch of grass behind the One Cleveland Ctr parking deck?

 

I had to look it up on Googlemaps to be sure, but that's right. BTW - I also discovered that the parking deck has tennis courts on it's roof. Never knew that.

There's a whole fitness center up there including the gym, track, tennis courts and I believe even a pool. It's all closed. I guess with the YMCA opening across the street Optima doesn't see a value in it right now

New owners rattle local office market

October 31, 2015

By Stan Bullard 

 

Less consolidated ownership of multiple buildings. Less local. Less free wheeling.

 

Those phrases define the impact of a dramatic change in ownership of Northeast Ohio multitenant office buildings that still is unfolding.

 

Some might at first dismiss the impact of the changing sources of ownership because you replace one professional manager with another. Real estate agents will continue to play a role in bringing owners and tenants together to make a deal.

 

READ MORE:

http://www.crainscleveland.com/article/20151031/NEWS/151039968/new-owners-rattle-local-office-m

^"rattle" sounds bad, but in reading the article, the author suggests that new and broader ownership is good.

Article also notes the growth here of Virginia-based Acumen Solutions which has an office in Independence....

 

Silicon Valley-based BrightEdge plans to build up downtown Cleveland office

By Marcia Pledger, The Plain Dealer

on November 19, 2015 at 7:20 AM, updated November 19, 2015 at 8:43 AM

 

CLEVELAND, Ohio – Silicon Valley-based software company BrightEdge plans to build a sales office in downtown Cleveland.

 

The marketing technology company that uses data analytics to improve online content marketing for companies has 10 employees so far in the Fifth Third Building on Superior. But a company official said he expects the office to have 25 to 50 employees in the next six months.

 

Brad Mattick, vice president of marketing and products at BrightEdge, said Cleveland is attractive for many reasons including the talent pool, quality universities, transportation ease, and inexpensive downtown real estate.

 

MORE:

http://www.cleveland.com/business/index.ssf/2015/11/silicon_valley-based_brightedg.html

One step forward (see prior posting). One step back (see below)...

 

OM Group will leave E&Y Tower

Firm's headquarters, and 30 jobs, are moving from Cleveland to St. Louis

November 22, 2015 UPDATED 2 DAYS AGO

By STAN BULLARD   

 

Scratch another name from the roster of Northeast Ohio-based corporations — and with it another 30 executive jobs — as the new owner of OM Group plans to move its corporate headquarters to St. Louis.

 

Jim Voss, who became CEO of OM Group as the deal was consummated at the end of October, said the Apollo Management Group’s affiliated funds that purchased three OM divisions has different headquarters needs than OM had for its 2-year-old corporate headquarters on the 13th floor of Ernst & Young Tower, downtown Cleveland’s newest office building.

 

“When the decision was made to take out this lease, it was a different strategy and a bit pricey,” Voss said. “The building is awesome, but the office is bigger than anything we wanted to have going forward as a drastically different company.”

 

The specialty chemicals provider had five divisions with 50 employees when it moved to E&Y from Key Tower.

 

MORE:

http://www.crainscleveland.com/article/20151122/NEWS/151129927/om-group-will-leave-ey-tower

^and I love how the CEO admits he lives in St. Louis and didn't really look at any potential analysis between the two cities. Another one bites the dust...

^and I love how the CEO admits he lives in St. Louis and didn't really look at any potential analysis between the two cities. Another one bites the dust...

 

That's exactly how Nestle USA arrived in Cleveland, and later departed for LA.

Also how Mace came to Cleveland.

Riverside Co. sells marketing technology firm Brandmuscle to a private equity buyer

December 02, 2015 UPDATED 8 HOURS AGO

By CHUCK SODER 

 

The Riverside Co. has sold Brandmuscle, a marketing technology and services company with 210 employees in downtown Cleveland.

 

Cleveland-based Riverside sold its majority stake to another private equity firm: American Capital Equity III LP of Bethesda, Md.

 

The deal will give Brandmuscle access to more capital, which will allow it to buy other companies — companies with expertise in digital advertising. Examples could include search engine marketing, display advertising and social media, according to an email from the company.

 

MORE:

http://www.crainscleveland.com/article/20151202/NEWS/151209949/riverside-co-sells-marketing-technology-firm-brandmuscle-to-a

Siemens Healthcare relocates its U.S. central zone HQ from Pittsburgh to Cleveland https://t.co/gBDaT66M05

^Man that was announced what seems like YEARS ago--I thought that that had already happened, though I thought it was Siemens US div--not the Midwest Div....

I thought it sounded familiar so I checked the date of the article to make sure.

MED Institute Opens Satellite Office in Cleveland

Posted: Dec 08, 2015 4:00 PM EST

Updated: Dec 09, 2015 8:29 AM EST

By Alex Brown, Multimedia JournalistCONNECT

 

West Lafayette-based MED Institute announced the opening of a new satellite office in Cleveland Tuesday. The office is located in the incubator facility of the Global Cardiovascular Innovation Center.

 

Initially, MED will have personnel on site part-time to better meet the needs of the companies at GCIC. The company looks to broaden its relationship with Ohio-based companies by having the satellite office

 

MORE:

http://www.insideindianabusiness.com/story/30697928/med-institute-opens-satellite-office-in-cleveland

The paragraph intrigues me. Wonder what changed in the last 30 days??

 

Terry Coyne of the NGKF real estate brokerage, who handled the building sale and is representing the property for Hudson, said interest in office space has picked up during the last 30 days. "We're excited that we won," Coyne said of the tax credits, "and our pre-leasing activity has been very strong."

 

http://www.cleveland.com/business/index.ssf/2015/12/former_huntington_building_win.html

Michelle mjarboe[/member] gives a preview of the 200 Public Square atrium renovations due to start. (Photos). I like how RuthChris will have an patio/entrance from inside the atrium.

 

http://www.cleveland.com/business/index.ssf/2015/12/200_public_square_atrium_renov.html#incart_river_home

Michelle (if you see this because my Cle.com comment is not going through), have there been any indications about whether the bakery will have a door/entrance on Euclid Avenue?

 

Also, has there been any update on whether the ground-floor retail facing Euclid underneath the Huntington Garage (former Charter bank space) is going to be converted to something else?

 

Thanks!

New office building style will start in Pittsburgh

December 29, 2015 12:00 AM

By Mark Belko / Pittsburgh Post-Gazette

 

A Columbus developer wants to turn the old-style office building on its head. And it plans to start in Pittsburgh.

 

By the time the E.V. Bishoff Co. is done with the historic Investment Building on 4th Avenue, Downtown, your father might not recognize it, not with shared office space on one floor and a lobby that looks more like a hotel than a center of commerce.

 

...Bishoff will test the new concept in Pittsburgh before trying it in buildings it owns in Columbus and Cleveland.

 

MORE:

http://www.post-gazette.com/business/development/2015/12/29/New-office-building-style-will-debut-in-Pittsburgh-E-V-Bishoff/stories/201512290058

My father started his business in a shared office space arrangement 17 years ago. Basically the same thing except obviously open work areas weren't popular, so there were more walls and doors.

Those guys own the Superior Bldg and the City Club Bldg.

 

Those guys own the Superior Bldg and the City Club Bldg.

 

Interesting. I wish someone would do some renovations on the Superior Building. It needs a little TLC on the exterior.

^There's a good Vietnamese restaurant hidden inside on the ground floor (with a front on Rockwell).

Those guys own the Superior Bldg and the City Club Bldg.

Hmm....that's interesting. My partner looked at work share space in Superior. They must be planning something different then. It was pretty decent space.

My father started his business in a shared office space arrangement 17 years ago. Basically the same thing except obviously open work areas weren't popular, so there were more walls and doors.

 

A bit off topic, but it's interesting how you say "obviously". 

Looks like renovations will soon be underway at the City Club Building, albeit unplanned renovations......

 

_________

 

December 30, 2015

 

To All City Club Clients:

 

As many of you are already aware, a hot water line ruptured in one of the upper floors of the building, bringing water cascading down through the building. Though we are still investigating the cause of the rupture, it brings to light the need to continue to reduce the number of pressurized waterlines in all of our buildings.

 

To accommodate that need you will find members of our operations staff investigating the installation of insta-hots in all restrooms so that the existing hot water distribution system can be drained and evacuated in its entirety.

 

Though this process will be both time consuming and expensive, we believe that it is in the best interest of the City Club Building and are executing against this capital program immediately.

 

We are sorry for inconvenience that this waterline break has caused and will work diligently to see that it doesn’t happen again.

 

Sincerely,

David Bishoff

Will be interesting to see if both offices are kept. Pease's downtown office is at 1422 Euclid..

 

Pease & Associates, CPAs Announces Merger With Beachwood CPA Firm To Further Grow And Expand Client Services

 

CLEVELAND and BEACHWOOD, Ohio, Jan. 4, 2016 /PRNewswire/ – Effective January 4, 2016, Proper & Associates (Proper), a Beachwood-based CPA and management consulting firm, has merged with Pease & Associates (Pease), one of Cleveland’s leading accounting and business advisory firms.

 

Bill Proper will join Pease as a partner and his entire staff will be joining Pease.  With a combined staff of more than 60 at offices in downtown Cleveland and Beachwood, the firm will be able to offer expanded services to clients ranging from start-ups to multi-generational businesses, while supporting public initiatives in these growing communities.  The firm will continue to offer traditional services, including tax and business planning, accounting, tax preparation and reporting, as well as expanding our small business, mergers & acquisitions and healthcare practice groups.

 

MORE:

http://prnewswire-yahoopartner.tumblr.com/post/136631968726/pease-associates-cpas-announces-merger-with

Office vacancies go up; industrial outlook bright

January 10, 2016 UPDATED 2 DAYS AGO

By STAN BULLARD   

 

Look to hear less this year about construction of another downtown Cleveland office building and more about the building of industrial properties.

 

Those are two takeaways from the Beachwood-based NAI Daus real estate brokerage’s survey of office and industrial market conditions effective at year-end 2015.

 

Thanks to mergers and acquisition activity and the continued drive to downsize offices, the prime downtown Class A office market vacancy jumped to 18.7% in 2015 from 15% a year earlier.

 

MORE:

http://www.crainscleveland.com/article/20160110/NEWS/160109845/office-vacancies-go-up-industrial-outlook-bright

On the surface, an increase in prime downtown Class A vacancy to 18.7% from 15% looks bad. However, the latter portion of the article notes that Key Bank's new lease took affect this year as they officially shed 213k SF, or 11 floors of Key Tower, despite those floors probably being vacant for years. The only new build project incorporating office space downtown seems to be Stark's NuCLEus right? Although at 200k SF, it's not that large of a component. I thought I saw the 925 Euclid project would include 500k SF of office space?

 

Office vacancies go up; industrial outlook bright

January 10, 2016 UPDATED 2 DAYS AGO

By STAN BULLARD   

 

Look to hear less this year about construction of another downtown Cleveland office building and more about the building of industrial properties.

 

Those are two takeaways from the Beachwood-based NAI Daus real estate brokerage’s survey of office and industrial market conditions effective at year-end 2015.

 

Thanks to mergers and acquisition activity and the continued drive to downsize offices, the prime downtown Class A office market vacancy jumped to 18.7% in 2015 from 15% a year earlier.

 

MORE:

http://www.crainscleveland.com/article/20160110/NEWS/160109845/office-vacancies-go-up-industrial-outlook-bright

In the most recent article I posted,  it described 925 Euclid more broadly as: "300,000 square feet of office and retail" but that there would be 60,000 sf of office space in the proposed incubator.

Medical Mutual HQ mortgage in trouble, as insurer eyes real estate options (photos)

 

CLEVELAND, Ohio – The owner of Medical Mutual of Ohio's headquarters building in downtown Cleveland has run into trouble with his lender, just as his sole tenant is evaluating the future of its office space.

 

An affiliate of BentleyForbes, a Los Angeles-based landlord, recently said it would be unable to repay or refinance a loan on the Medical Mutual complex, comprised of the 10-story Rose Building and its six-story annex at East Ninth Street and Prospect Avenue. Control of the loan, which matured Jan. 1, transferred in December to a special servicer, a company that deals with troubled commercial real estate debt.

 

 

http://www.cleveland.com/business/index.ssf/2016/01/medical_mutual_hq_mortgage_in.html#comments

The word I keep hearing around the water coolers re:2020 is 'Campus'. I hope that's not the decision in the end.  It would be a great opportunity to move into something like Nucleus, which would (potentially) be finished by then.  It doesn't seem like staying in the Rose building is likely.

The word I keep hearing around the water coolers re:2020 is 'Campus'. I hope that's not the decision in the end.  It would be a great opportunity to move into something like Nucleus, which would (potentially) be finished by then.  It doesn't seem like staying in the Rose building is likely.

 

If I was Stark, I'd get on the phone with them immediately.

Most developers know about these potential office moves long before they hit the media. Sometimes developers convince office users they aren't happy with their existing space and decide to move on. Then sometimes another developer swoops in and steals them away!

I read that story earlier and kept hoping "Jacobs lot"

And what does ' campus ' refer to?    Like Eaton in the suburbs.

I would be concerned about that comment if it didn't directly state in the story that they want to stay committed to downtown due to the ongoing renaissance.

Also consider that Medical Mutual recently consolidated its Central Ohio operations at One Columbus Center in downtown Columbus. They chose downtown over the burbs in Columbus, so hopefully that says something about Medical Mutual's culture.

If MM consolidated its NE Ohio operations downtown, that would be about 1,700 workers in 600,000 to 700,000 square feet of office space. That's a pretty big building -- in the 25- to 35-story range if the floorplates average about 20,000 to 25,000 square feet each. That assumes no room for expansion nor any lower levels set aside for structured parking. No Class A office building has that much space available, let alone on contiguous floors. That has to mean a new building. if Jacobs can reel in Medical Mutual for the Public Square lot and Weston starts developing its Warehouse District parking lots, the changes to that end of downtown would be incredible.

And what does ' campus ' refer to?    Like Eaton in the suburbs.

 

It doesn't mean anything dense, and usually means multiple buildings.  More Progressive than Eaton.

http://www.cleveland.com/tribe/index.ssf/2016/01/mark_shapiro_cleveland_indians.html

 

Was reading an interview with Mark Shapiro, former Cleveland Indians President and current Toronto Blue Jays pres, and found his answer to Indians attendance concerns interesting:

 

"Colloquially speaking, you've got to get past looking at the team through the lens of the mid-'90s. No football team. Not having won for 40 years. New ballpark multiplier. Not a competitive basketball team. And 100,000 more people working downtown."

 

Did Cleveland really lose half of its downtown workforce population since the late 1990s, or is this an exaggeration?

An exaggeration.

^^ big exaggeration- downtown was at around 150k in the 90s; we're at 125k now, which is up 25k from just a few years ago

All those factors were true to one degree or another, but the biggest driver of attendance IMO was that the mid-90s Infians were the most exciting team MLB has seen in my time. No game was out of reach with that offense

And what does ' campus ' refer to?    Like Eaton in the suburbs.

 

It doesn't mean anything dense, and usually means multiple buildings.  More Progressive than Eaton.

 

Basically.  I think they are being honest when they say they're weighing all options.  Also don't be surprised if the consolidation includes a significant chunk of the Toledo office.  The Columbus sales consolidation, from what I understand, was driven by wanting to have a presence, signage, next to the statehouse.

Wasn't Medical Mutual originally supposed to be the tenant in One Cleveland Center (the building that looks like a chisel)?  And the outcry over the cost made them back down?

 

Wasn't Medical Mutual originally supposed to be the tenant in One Cleveland Center (the building that looks like a chisel)?  And the outcry over the cost made them back down?

 

 

Sounds familiar. Hopefully they've changed their tune over the past 33 years about moving into a new downtown skyscraper!

 

If not, maybe they could take over a rehabbed Justice Center courts tower after the county/city moves to a new complex...

Investment property sales in Northeast Ohio rose 12% in 2015

January 24, 2016 UPDATED 2 DAYS AGO

By STAN BULLARD

 

Commercial property investment sales expert Alec Pacella knew sales of office buildings in Northeast Ohio had to rebound at some point. But even he is surprised by the category’s 2015 surge.

 

“The investment market for office has been lagging the last few years, but I didn’t think it would account for a third of total volume in 2015,” said Pacella, managing partner of the Beachwood-based NAI Daus real estate brokerage, as he released his annual survey of commercial investment sales activity in Northeast Ohio exceeding $1 million.

 

MORE:

http://www.crainscleveland.com/article/20160124/NEWS/160129917/investment-property-sales-in-northeast-ohio-rose-12-in-2015

TeamWork Online sets up shop downtown, celebrates several milestones

January 28, 2016

KEVIN KLEPS 

SPORTS BUSINESS

 

TeamWork Online might not be a household name in Northeast Ohio, but the matchmaking service for teams and potential employees is a heavyweight in professional sports.

 

This year, the company is celebrating a few milestones.

 

TeamWork, which describes itself as a “prominent mobile recruiting and networking platform,” was founded by Buffy Filippell, who in 1978 became the first female sports agent at marketing giant IMG. Fifteen years ago, Filippell was looking for a digital version of her executive search firm, TeamWork Consulting.

 

TeamWork Online was born, and the company is a huge local success story.

 

TeamWork, which had been headquartered in Shaker Heights, recently opened a spacious office in the Caxton Building at 812 Huron Road. That’s about a four-minute walk from Quicken Loans Arena, which houses one of the hundred-plus big-time sports teams TeamWork counts as a client.

 

MORE:

http://www.crainscleveland.com/article/20160128/BLOGS06/160129809/teamwork-online-sets-up-shop-downtown-celebrates-several-milestones

Accenture leaving Public Square, will occupy former Sammy's restaurant headquarters

January 31, 2016 UPDATED AN HOUR AGO

By STAN BULLARD   

 

Accenture, a global professional services firm, plans to trade its mainstream address on Cleveland’s Public Square for the former home of Sammy’s restaurant and City Life catering overlooking the city’s Flats.

 

About 200 workers based at Accenture’s Cleveland office at 200 Public Square will begin working this spring at 1400 West 10th St. after the Dublin, Ireland-based publicly traded company leased the top floor of the three-story building. The building is being converted to a multitenant office by an investor group led by Scheer Real Estate Group of Chagrin Falls. It offers a loft-style environment among timber beams with expansive views of the Cuyahoga River.

 

MORE:

http://www.crainscleveland.com/article/20160131/NEWS/160129762/accenture-leaving-public-square-will-occupy-former-sammys-restaurant

 

A very interesting coincidence indeed...

 

Medical Mutual will move Strongsville office, as insurer weighs real estate needs

By Michelle Jarboe, The Plain Dealer

on February 02, 2016 at 2:54 PM, updated February 02, 2016 at 4:59 PM

 

STRONGSVILLE, Ohio -- Medical Mutual of Ohio plans to move its Strongsville facility into a different building later this year. But the insurer and nearly 400 employees are staying put in southwest Cuyahoga County - for now.

 

The Cleveland-based company announced Tuesday that it will leave its current space, at 17800 Royalton Road, for new digs less than five miles away at West Sprague Road and Mohawk Drive before August.

 

"We're extremely pleased that we can remain in Strongsville," Rick Chiricosta, Medical Mutual's chairman, president and chief executive officer said in an emailed statement. "The city has been a great partner to us and our employees."

 

The new lease carries a four-year term, putting its expiration date close to the end of Medical Mutual's headquarters lease in downtown Cleveland. That's no coincidence, as the state's oldest health insurer is evaluating its future office-space needs.

 

MORE:

http://www.cleveland.com/business/index.ssf/2016/02/medical_mutual_will_move_stron.html#incart_river_index